As we turn our clocks ahead this weekend, we "spring" another hour closer to tax season. For many eager homeowners, tax refund checks may mean a family vacation this year, a new TV or potentially even that spa-like bathroom you've been dreaming of! But what if that tax refund doesn't cover the entire bathroom remodeling investment?
We are happy to share some general details about how the majority of Diamond Bath clients pay for their projects, and define some options that you may not have considered.
Payments Over the Remodeling Process: The first thing to note is that our projects commence with a minimal 20% upfront deposit of the overall estimated cost. If your bathroom remodeling project were estimated at $15,000, your initial deposit would be just $3,000. Two additional payments over the course of the project are defined ahead of time, and we conclude with a final balance upon project completion. Please beware of companies that require massive upfront deposits (50% or greater) or that have you paying 100% of the estimated price before the project is completed.
Home Equity Lines of Credit (HELOC): Years ago, a home equity line was the most popular way to pay for professional remodeling projects but, as outlined in this article by the Chicago Tribune, people are a little more gun-shy following the economic bubble from a decade ago. None the less, the tax-deductible interest on HELOC loans continues to be appealing for some homeowners we work with.
Financing: Our new partners at GreenSky Financial offer three different payment options for signature loans that are fairly quick and easy to obtain. Select the plan that makes best financial sense for your family and approval can be provided within in minutes. As we make progress with your remodeling project, GreenSky provides the approved payments only you authorize.
Credit Cards: Within the state-of-the-art Client communication portal we use for our project management, we can also securely accept credit cards at the appropriate point in each remodeling project. Since some clients are still uncomfortable with putting their credit card details online, we always offer the ability to stop into our Crystal Lake offices for on-site payment processing during regular business hours.
Cash & Check Discounts: While most of the payment methods above are both comfortable and convenient for consumers, the financial reality for business owners is slightly different. It's well known that accepting credit cards and offering financing packages comes at an expense to every company. That's why we have always offered an on-time payment discounts for Clients who elect to pay with checks or cash. Be sure to ask your Diamond Bath representative about it!
After many years in the remodeling business, we realize that paying for home improvements is something that every homeowner must contend with. We work diligently with each client to make certain that our payment requests are in alignment with the progress of their remodeling project. We encourage all potential Diamond Bath clients to spend a few minutes on our new Reviews page to get a good sense of how highly satisfied our customers actually are!
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